petty cash fund
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
25. On October 1, 2012, Al Zahra Trading Co. established a petty cash fund for OMR 175 and a cheque is written for the same amount and made out to Ms. Fatma, the petty cash custodian. At the end of each month the fund is to be replenished. At the end of the month, Fatma has the receipts for the following:
Office supplies OMR 60
Delivery expenses OMR 50
Postage OMR 20
Entertainment OMR 30
Required:
Write relevant journal entries
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